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HL Multi-Manager European Accumulation (GBP)

Sell:164.82p Buy:164.82p Change: 1.36p (0.83%)
Prices as at 27 June 2022
Change: 1.36p (0.83%)
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
Prices as at 27 June 2022
Change: 1.36p (0.83%)
Prices as at 27 June 2022
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Our view on this Fund

This fund combines the Hargreaves Lansdown investment team's favourite European funds in a single portfolio.

The portfolio aims to offer exposure to a multitude of European countries, companies and fund management styles in a convenient one-stop-shop. Different regions and types of company will perform well at different times, so the team have blended together a selection of what they believe are the very best funds to create a balanced, diversified portfolio. They have focused on what they believe are the highest-quality managers.

We believe this fund could provide core exposure to European markets. It could also be used to provide further diversification to a global equity portfolio.

Our view on the sector

Europe has been blighted by political issues in recent years. And some European economies are struggling with high levels of debt and unemployment. But it's important to disconnect a region's economic prospects from its stock market prospects. Europe is home to lots of successful businesses that make money across the globe - from the US to high-growth areas like Asia and emerging markets. That means their prospects aren't heavily reliant on Europe's economy. Some investors have overlooked the region in recent years. But we think Europe is a great place to invest for the long term and there are plenty of high quality fund managers to choose from.

Performance Analysis

This fund is a relatively new addition to the Hargreaves Lansdown Multi-Manager fund range. It aims to outperform its peers and the FTSE World Europe ex UK Index over the long term.

Our investment team has spent many years researching European funds - some of their highest-conviction managers in this sector already feature in a number of Hargreaves Lansdown's other Multi-Manager funds. As part of this analysis, our research team have also been selecting European funds for the Wealth 150 list of our favourite funds since 2003. We feel the team's fund choices in this sector have been some of the most successful, and their experience should prove invaluable when selecting funds for the HL Multi-Manager European Fund.

Investment Philosophy

A number of exceptional fund managers investing in Europe can be identified via a combination of detailed quantitative and qualitative analysis.

Experienced managers with proven track records and the ability and willingness to invest away from the index are favoured. The investment team favour managers with proven stock picking talent and a passion for investment.

Process and Portfolio Construction

The investment team's approach seeks to use fund managers' different skills and areas of focus to complement each other, aiming to deliver outperformance irrespective of which area or country is currently in favour.

Hargreaves Lansdown has developed a proprietary analysis tool covering in excess of 2,000 funds and fund managers. The purpose is to understand why a fund performs as it does with the aim of identifying fund managers able to add value within their area of the market. This analysis allows the team to shortlist funds worthy of further consideration in the form of face-to-face meetings. These meetings explore a multitude of aspects regarding the fund and its manager including people, process, philosophy, portfolio construction and incentivisation.

The fund must invest at least 80% of its assets in European (excluding UK) equities. It will tend to have a greater bias towards higher-risk small and medium-sized companies (and lower exposure to larger companies) compared with the benchmark index - the investment team believes managers investing in these areas of the market have the greatest potential to add value over the long term. The team will also ensure the portfolio is diversified by manager investment style.

question mark Manager Track Record Based on HL Quantitative Research

  • HL Multi-Manager European A Acc
  • IA Europe (Excluding UK)

Fund Track Record

24/06/17 to 24/06/18 24/06/18 to 24/06/19 24/06/19 to 24/06/20 24/06/20 to 24/06/21 24/06/21 to 24/06/22
Annual return 3.21% 4.66% 4.54% 21.90% -16.49%

Please remember past performance is not a guide to future returns. Where no data is shown, figures are not available. This information is provided to help you choose your own investments, remember they can fall as well as rise in value so you may not get back the original amount invested.

Fund Management Group Comment

Hargreaves Lansdown is one of the UK's leading independent financial services providers and asset management specialists. The business was established in 1981 by Peter Hargreaves and Stephen Lansdown and in May 2007 obtained a listing on the London Stock Exchange.

The HL Multi-Manager funds offer a broadly diversified, managed portfolio of funds through a single investment. The range consists of six funds, but will soon be expanded to eight following the launch of two new funds in the first half of 2015. These funds are managed by our sister company Hargreaves Lansdown Fund Managers.

Information about the fund

Fund manager biography

manager photo
Manager Name: Ellen Powley
Manager start date: 1 July 2019
Manager located in: Bristol

Ellen has been a member of the Investment team since July 2004 having joined Hargreaves Lansdown in March 2003. She has co-managed the HL Multi-Manager Income & Growth Trust since February 2006 and the Portfolio Management Service since June 2007. Ellen has also been co-manager of the HL Multi-Manager UK Growth and HL Growth since launch and HL MM European fund since July 2019. Ellen holds a BSc (Hons) degree in Economics from the University of Birmingham.

manager photo
Manager Name: Roger Clark
Manager start date: 26 February 2015
Manager located in: Bristol

Roger holds a BA (Hons) in Management and Statistics from the University of Exeter. Roger joined Hargreaves Lansdown in January 2004, became a member of the Investment team in January 2006 and became a Fund Manager in 2007. Roger has been co-manager of the HL Multi-Manager European and HL Multi-Manager Asia & Emerging Markets funds since their launches in February 2015 and April 2015 respectively. He has also been co-manager of HL Multi-Manager UK Growth since July 2019. Roger passed the Investment Management Certificate exam and is a Chartered Alternative Investment Analyst (CAIA).

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Benchmark data provided subject to this disclaimer.
You can buy or sell holdings in this fund through a Stocks and Shares ISA, Lifetime ISA, SIPP or Fund and Share Account